Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning, today is Wednesday, July 5th, and I'm your host Julie Morgan.

There's a new app on the block,

it's called Threads, and it's setting itself up

to be Twitter's rival.

Illumina is facing a hefty fine from the European Union,

and GTCR is in advanced talks to buy a stake in world pay.

Here's what's making headlines today.

Threads is a new app and Apple's App Store.

It's Instagram's answer to Twitter.

In the app store, the description says it's coming soon and more specifically, July 6th.

The yes, do the math, that's tomorrow.

Threads is described as a place where communities come together to discuss everything

from the topics you care about today to what will be trending tomorrow.

But Twitter's rival app is taking some heat on where else Twitter.

Users have been pointing out the amount of data that is up for grabs by Meta including

your browsing and search history.

Instagram also dropped an Easter egg about the new app.

If you search threads on Instagram, you'll get a countdown with a personalized ticket.

Recent technical changes at Twitter from owner Elon Musk have frustrated some

longtime users of the platform. Monday we told you here on Wall Street

breakfast about a rate limit feature restricting how many posts users could view on

...